Australia to Require Crypto Exchanges to Get Financial Licences, Small Players at Risk

TLDR: Over 400 Australian crypto exchanges may need financial licences, forcing many smaller players out of the market. New laws will bring exchanges under ASIC oversight, with penalties for misleading conduct and unfair contracts. Platforms under $10M yearly volume and $5K per customer balances are exempt from the new compliance regime. BTC Markets and Independent [...]

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